Used car dealer vehicle finance provider eyes the future
Published: 04 August, 2022
V12 Vehicle Finance (V12VF), which has hit three years in business is considering its next move as it celebrates posting £65.4 million in stock funding to used car dealers in 2021. During 2020, it achieved £12.7 million. V12VF also reached another milestone when it broke the £150m stock funding finance barrier since its launch three years ago.
V12 Vehicle Commercial Director, said Ciara Raison,: “Our dealer feedback is that they really like how we treat them as individual businesses and can offer commercial solutions which match their business model. The easiest way to sum up how we help our dealers is that we save them money, we make them money, we save them time, we take away hassle and we give them peace of mind.”
According to Ciara, online sales and EVs are just two of the key developments in the marketplace that the company is planning for: “The pandemic has forced dealers to look at their models and service their customers remotely. This in turn has given customers confidence to buy online, a trend that is likely to increase. The timing for disruptor models such as Cinch and Cazoo has been advantageous for them in establishing their models.
“Fnally, there is an acceptance of government direction away from fossil fuels.
In order to win looking forward, lenders will need to be able to support these changes both in terms of their technology and culture.
For more information, visit: www.v12vf.co.uk/
- New PCP solution launched
V12 Vehicle Finance has launched a PCP solution. Estelle McConnell, V12 Vehicle Finance Sales Director said: “We created this after listening to a number of dealers, all of whom were calling out for a more flexible way of offering PCP.It will help them to help to put their customers in the most suitable car for them at the lowest monthly payments. Not only will they work more efficiently but, more importantly, they will ultimately close more sales.”
- Third of drivers would sell car due to £500 cost of living surge
A £500 increase in the cost of living for 34% of drivers would force them to sell their car, a recent survey has found, with a further 29% saying just a £250 rise would be enough to see them let their vehicle go.
- Bosch: Electric/Hybrid Vehicle System Awareness
Bosch has launched a new EV and hybrid online training course. Electric/Hybrid Vehicle System Awareness is a non-technical course suited to staff in a wide variety of roles including service managers, front-of-house, parts advisors, drivers, valeters, recovery personnel and others
- No service history, no sale say carbuyers
79% of motorists will refuse to buy a used vehicle if it does not have a full or nearly full service history, while 42% require the full service history, with every service undertaken, before putting money down on a car, according to a new study from BookMyGarage.com.
- Hunter touchless alignment system
The Hunter Quick Check Drive is available exclusively from Pro-Align. It is a ‘drive-thru’ non-contact wheel alignment inspection system, where there is no need to attach sensors or targets, or even for the vehicle to stop. The Quick Check Drive system comprises of two slim profile units, which should be situated in the entrance to a workshop. Each of the units contains 16 lasers which are used to assess the vehicle’s total toe and individual camber measurements, and several cameras which are used to record 40-60 high-definition images of the car, helping to eradicate any fraudulent body damage claims. In order to carry out the alignment assessment, the vehicle needs to be driven between the two measurement units at a speed of between 2-10 mph. Technicians or service advisors then input or confirm the vehicle make and model details, and the system cross-references Hunter’s vehicle database to determine if the vehicle is within the manufacturer’s tolerances, or if a full 14-point alignment assessment is required. The system can take new readings every 3-5 seconds.
www.pro-align.info/qcd
